Rock Ventures Iv L.P. Third Sells 86,459 Shares of Tango Therapeutics (NASDAQ:TNGX) Stock

Key Points

• Rock Ventures Iv L.P. Third, a major shareholder of Tango Therapeutics, sold 86,459 shares for a total value of $608,671.36, reducing their stake by 0.58% to approximately 14.7 million shares.
• Tango Therapeutics' stock trades at around $6.82, having a 52-week low of $1.03 and a high of $10.85, with an average price target from analysts set at $10.50.
• Institutional investors and hedge funds own 78.99% of Tango Therapeutics, indicating strong institutional support for the company.

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) major shareholder Rock Ventures Iv L.P. Third sold 86,459 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $7.04, for a total value of $608,671.36. Following the sale, the insider directly owned 14,727,516 shares in the company, valued at approximately $103,681,712.64. The trade was a 0.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Rock Ventures Iv L.P. Third also recently made the following trade(s):

• On Friday, September 5th, Rock Ventures Iv L.P. Third sold 642,906 shares of Tango Therapeutics stock. The shares were sold at an average price of $7.00, for a total value of $4,500,342.00.
• On Friday, August 22nd, Rock Ventures Iv L.P. Third sold 302,194 shares of Tango Therapeutics stock. The shares were sold at an average price of $7.00, for a total transaction of $2,115,358.00.
• On Tuesday, August 19th, Rock Ventures Iv L.P. Third sold 1,100,000 shares of Tango Therapeutics stock. The shares were sold at an average price of $7.01, for a total transaction of $7,711,000.00.

Tango Therapeutics Stock Down 3.6%

Shares of Tango Therapeutics stock traded down $0.25 on Friday, hitting $6.60. 1,076,577 shares of the company traded hands, compared to its average volume of 1,717,922. The company has a 50-day moving average price of $6.58 and a 200 day moving average price of $3.84. Tango Therapeutics, Inc. has a 12-month low of $1.03 and a 12-month high of $10.85. The company has a market cap of $733.76 million, a PE ratio of -4.96 and a beta of 1.64.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.35). Tango Therapeutics had a negative net margin of 599.11% and a negative return on equity of 79.72%. The company had revenue of $3.18 million during the quarter, compared to analysts' expectations of $6.41 million. Equities research analysts anticipate that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Tango Therapeutics in a report on Monday, August 18th. They set an "overweight" rating and a $11.00 price target for the company. Guggenheim upped their price target on shares of Tango Therapeutics from $8.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $10.50.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds have recently modified their holdings of TNGX. CWM LLC boosted its holdings in shares of Tango Therapeutics by 182.2% during the 2nd quarter. CWM LLC now owns 4,905 shares of the company's stock valued at $25,000 after acquiring an additional 3,167 shares in the last quarter. Stonebrook Private Inc. acquired a new position in Tango Therapeutics during the 4th quarter worth about $34,000. Ameriprise Financial Inc. acquired a new position in Tango Therapeutics during the 4th quarter worth about $35,000. Dynamic Technology Lab Private Ltd lifted its holdings in Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock worth $35,000 after buying an additional 15,037 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock worth $36,000 after buying an additional 1,640 shares during the period. Institutional investors and hedge funds own 78.99% of the company's stock.

About Tango Therapeutics

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.